The NCUA board received a briefing on cybersecurity in the credit union system at Thursday’s board meeting, outlining many examination procedures that are in the process of being adopted by the agency.
Thursday’s NCUA meeting has only two items on the agenda, a board briefing on cybersecurity in the credit union system and a quarterly report of the Temporary Corporate Credit Union Stabilization Fund.
The NCUA will host a public briefing on its proposed 2017-2018 budget on Oct. 27 at its Alexandria, Va., headquarters. According to the agency, it will release its draft budget during the week of Oct. 9.
The NCUA sent a letter to credit unions Wednesday containing a number of resources designed to help credit unions foster a culture of diversity and inclusivity, including a voluntary credit union self-assessment checklist.
The lawsuit filed against the NCUA by the Independent Community Bankers of America Wednesday is without merit, CUNA President/CEO Jim Nussle said. The ICBA filed its suit in response to the NCUA’s revised member business lending rule.
NCUA Chair Rick Metsger told CUNA that the agency has begun the process of consulting industry practitioners to assist in the transition as credit unions work to implement the new current expected credit loss accounting standard.
Revising call reports and Credit Union Profile can both enhance the NCUA’s supervisory ability and reduce regulatory burden on credit unions, CUNA wrote Friday. The NCUA requested input on ways to enhance the quality of collected information.
While CUNA appreciates the spirit of the NCUA’s annual review of its regulations, it should not be used as a reason to delay responses to a known problem with a regulation, CUNA wrote to the agency this week.
A CFPB led by a single director is not working for credit unions and has created a rigged system benefitting large banks, CUNA wrote to a House Financial Services subcommittee Tuesday for a hearing examining the bureau’s leadership structure.